Olin (NYSE:OLN) has announced a dividend payout of $0.20 per share on March 15, 2024, giving an annualized dividend yield of 1.56%. Shareholders who owned the stock before the ex-dividend date on March 06, 2024, will be eligible for this payout.
Olin has a track record of consistent dividend payouts, with a steady dividend per share of $0.80 from 2020 to 2023. This reliability is a positive sign for investors looking for income-generating stocks.
When compared to its industry peers, Olin‘s dividend yield falls in the middle range. Westlake Chemical (NYSE:WLKP) leads with the highest annualized dividend yield at 8.38%. Companies like Olin, which provide reliable cash dividends, are attractive to investors seeking income.
Consistency in dividend payouts often reflects a company’s financial stability. By monitoring a company’s dividend trends and earnings growth, investors can gain valuable insights into its financial health.
OLN Stock Shows Strong Performance with Positive Price Momentum on March 15, 2024
On March 15, 2024, OLN stock showed strong performance as it traded near the top of its 52-week range and above its 200-day simple moving average. This indicates positive price momentum for the stock, suggesting that it may continue to see upward movement in the near future.
The price of OLN shares increased by $0.73 since the market last closed, representing a 1.27% rise. This is a significant increase in value for the stock, indicating that investors have confidence in OLN’s future prospects.
OLN opened at $57.36 on March 15, which was $0.27 lower than its previous close. Despite the slight decrease in the opening price, the stock quickly gained momentum and saw a strong increase throughout the trading day.
OLN Stock Sees Decline in Total Revenue, Net Income, and EPS on March 15, 2024
On March 15, 2024, OLN stock saw a decline in its total revenue compared to the previous year and the last quarter. The company reported total revenue of $6.83 billion for the past year, which is a 27.12% decrease from the previous year. In the fourth quarter, OLN reported total revenue of $1.61 billion, showing a 3.4% decrease from the previous quarter.
Similarly, OLN’s net income also saw a decrease both year-over-year and quarter-over-quarter. The company reported a net income of $460.20 million for the past year, marking a 65.32% decrease from the previous year. In the fourth quarter, OLN reported a net income of $52.90 million, holding flat compared to the previous quarter.
Earnings per share (EPS) for OLN also experienced a decline compared to the previous year. The company reported an EPS of $3.57 for the past year, which is a 60.01% decrease from the previous year. In the fourth quarter, OLN reported an EPS of $0.43, holding flat compared to the previous quarter.
Overall, OLN’s financial performance on March 15, 2024, showed a decline in total revenue, net income, and earnings per share compared to the previous year. Investors and analysts may be monitoring these trends closely to assess the company’s future prospects and growth potential.
